December 31st, 2011 
admin 
On Wednesday, Citigroup as agreed to sell its retail business in Belgium to Credit Mutuel Nord Europe according to the French firm.
A spokesman for CMNE said it would include Citigroup’s credit card and consumer loan businesses in the country.
“This fits perfectly in the CMNE group’s strategy. It is clearly based on our pursuit of expansion, notably in northern France and in Belgium, which we consider as our second domestic market,” Eric Charpentier, director general of Crédit Mutuel Nord Europe said in the statement.
The merged company will be set up after the closure of the transaction, expected in the second quarter of 2012.
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